Today’s consumers expect every digital experience to work as smoothly as ordering food or booking a flight. They expect a single, seamless journey, no matter what channel they’re on or what financial product they’re considering. When your different technology vendors are not well integrated, the result can be a fragmented set of frustrating work-arounds and manual inconveniences. Your back-office team suffers and your users will notice.
Some friction for the purpose of security is expected, but when your institution’s experience feels disconnected or confusing, it can quietly erode trust, your most valuable asset.
Fragmentation from Inflexible Vendors
Modern financial institutions are integrating as many as 30 different technology vendors to make their consumer-facing systems. These systems weren’t built to work together, and it shows. Most of these vendors sell Software as a Service (SaaS), so they want their software to work one way for all customers. Customization to meet your needs is not their business model.
At the base of their technology stack is the core system. With a few small exceptions, core systems are antiquated and go out of their way to make integrations expensive and challenging, to lock FI’s into their ecosystems. Their ecosystems are devoid of innovation, so smart FI’s spend mightily to go around their core and try to incorporate modern features from fintech partners.
The way budgets work, it’s typically too expensive to tackle all of your user experience at once. So FI’s build phase by phase, vendor by vendor, over time. They have learned the hard way that this results in data sharing problems, design inconsistency, and speedbumps that slow users down. The result is that these FI’s see 30%-50% abandonment rates in digital onboarding and zombie accounts that are so frustrating to open, the user never funds them.
We think we have a better way to build
Veritran Helps You Build Consistency
We think the cure to what ails modern FI’s is to holistically design, deliver, and govern your digital journeys. Here’s how Veritran can help.
First, we created a modern low-code platform and trained an army of talented technologists to build your ideal solution. This technology has been proven with institutions around the globe.
Design
We walk our customers through a design exercise to see their experience, not just as a collection of interfaces, but as an integrated experience. What do you want to keep, and what do you need to replace to fix the user experience?
Veritran’s platform gives financial institutions the ability to design seamless user experiences across onboarding and digital banking. Whether you want to replace outdated tools or augment what you already have, our flexible architecture adapts to your needs.
Consistency doesn’t mean every screen looks identical. It means the logic, tone, and flow feel familiar—whether someone is applying for a loan or checking a business account balance.
Deliver
We integrate quickly with your core system and other vendors to help you start testing in as little as 30 days. Your digital team can see results, react quickly, and stay on top of deadlines.
Govern
The consistency doesn’t just help users; it helps the back-office team. With a unified experience, you also get centralized compliance workflows, behavioral reporting, platform security, and anomaly detection. Fewer confused users mean fewer dropped sessions and fewer calls to call centers.
This same consistency is also critical for enabling services like digital account opening, which depend on smooth, secure, and adaptable flows across all channels.
A well-integrated architecture allows updates to be rolled out faster, across all channels simultaneously, without rewriting fragmented code bases. This is where the real cost savings of modern platforms emerge.
We Build Confidence
Trust is developed through consistently excellent experiences. Consistency in technology is the outcome of a well-architected system. Veritran can help you build systems that build trust.